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Salaries and Wages Expense
Service Revenue
1,800
4,000
Instructions
Answer these questions, assuming the year begins January 1.
(a)
If the amount in Supplies Expense is the January 31 adjusting
entry, and
$300 of supplies was purchased in January, what was the
balance in Supplies
on January 1?
(b)
If the amount in Insurance Expense is the January 31 adjusting
entry, and the
original insurance premium was for 1 year, what was the total
premium and
when was the policy purchased?
(c )
If $2,500 of salaries was paid in January, what was the balance
in Salaries and
Wages Payable at December 31, 2013?
(d)
If $1,800 was received in January for services performed in
January, what was
the balance in Unearned Service Revenue at December 31,
2013?